Article 54 – Financial Statements
1. The Authority may, by notice or through a decision issued by the Authority, request a Taxable Person to submit the financial statements used to determine the Taxable Income for a Tax Period in the form and manner and within the timeline prescribed by the Authority.
2. The Minister may issue a decision requiring categories of Taxable Persons to prepare and maintain audited or certified financial statements.
3. For the purposes of Clause 1 of this Article, the Authority may request a partner in an Unincorporated Partnership to provide financial statements showing all of the following:
- The total assets, liabilities, income and expenditure of the Unincorporated Partnership.
- The partner’s distributive share in the Unincorporated Partnership’s assets, liabilities, income and expenditure.